banking service chronicle article was published in financial system of the country as it may ○ have negative consequences on the economy due to their highly volatile nature and ○ it can lend significant economic control in the country to anonymous players who can be anyone like businessmen foreign governments or their proxies. dollarization of economy with almost all cryptocurrencies in india being dollardenominated and issued by foreign private entities they can replace the rupee in financial transactions. ○ dollarization means use of the us dollar as a medium of exchange or legal tender in addition to or instead of the domestic currency of the country banking service chronicle magazine subscription.
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